Posts Tagged ‘social commerce’

In April 2012, I wrote a piece that explored online social behavior and its impact on commerce and decision-making. The work was inspired by a series of studies based on the work of Robert Cialdini that identified six universal heuristics that shoppers use to make decisions.

With a looming $10 billion IPO on the horizon and a community that’s estimated to hit 1 billion users this Fall, Facebook seems unstoppable. Yet on one important front, the store front that is, Facebook has exposed an imperfection. People are not proving ready to actually buy goods and services in Facebook – at least not at the scale retailers are used to seeing through traditional e-commerce. And suddenly, many question the role Facebook actually plays in the monetization strategy of any business.

Social media is about social science not technology. As such, its value is not realized in the Likenomics of relationship status nor in the scores individuals earn by engaging in social networks. The value of social media comes down to people, relationships, and the meaningful actions between them. As such, its value is measured through the exchange of social currencies that contribute to one’s capital within each network. Through conversations, what we share, and the content we create, consume and curate, we individually invest in the commerce of information and the relationships that naturally unfold. It is in how these relationships take shape that is both in and out of your control. This is why, in the age of social networking, relevant engagement counts for everything.

Today’s social media best practices will show you the marvels of creative marketing in social networks, the benefits of customer service on Twitter and blogs, innovations in co-created products and services, and insights into how to build a more engaged business. As organizations migrate from rigid to social business models, no line of business, department, function, or small business for that matter, will go untouched or unchanged. So what’s next? As you can see in the image above, one of the more aggressive trends on the horizon is social commerce and it centers on improving the complicated relationships that exist between…

Whether you know it or not, the path that social media follows within the organization is in your hands. But as we’re learning, mastery of the latest social tools does not guarantee a place in the ranks of upper management let alone a place on the team period. The role of the social media champion is not timeless; in fact, the days of its designation are numbered. However, your role and the role of new media in your organization is developing as we go. Organizations need leaders right now.

Facebook Founder and Chief Executive Office Mark Zuckerberg describes Facebook as a social utility that helps people communicate more efficiently with their friends, families and coworkers. Indeed, Facebook is so much more than a social network. As a social utility, it changes the dynamics of relationships, how we communicate with one another, and how we discover, share and learn. Facebook and Social Media are redesigning the information super highway, forever altering how information travels and how people connect. The world is literally becoming a much smaller place and as a result, businesses are forced to compete for attention where it’s focused. Otherwise, the concepts of Digital Darwinism and the need to Engage or Die most certainly become reality – out of sight, out of mind.

Welcome to the (R)evolution, a new series that connects you to the people, trends, and ideas defining the future of business, marketing, and media. Episode 6 features an interview with good friend Philip Kaplan otherwise known in the industry as Pud.

Philip earned worldwide success as the founder of the infamous F*ckedCompany.com that chronicled the flameout of Web 1.0 excess, one company at a time. Kaplan went on to start several ventures including AdBrite, the largest independent ad exchange.

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ABOUT ME

Brian Solis is a digital analyst, anthropologist, and also a futurist. In his work at Altimeter Group, Solis studies the effects of disruptive technology on business and society. He is an avid keynote speaker and award-winning author who is globally recognized as one of the most prominent thought leaders in digital transformation.

His most recent book, What's the Future of Business: Changing the Way Businesses Create Experiences (WTF), explores the landscape of connected consumerism and how business and customer relationships unfold in four distinct moments of truth. His previous book, The End of Business as Usual, explores the emergence of Generation-C, a new generation of customers and employees and how businesses must adapt to reach them. In 2009, Solis released Engage, which is regarded as the industry reference guide for businesses to market, sell and service in the social web.